Suncity Synthetics Limited has successfully concluded its board meeting and approved a significant preferential issue of shares worth ₹3.00 crores. The board meeting, held on March 20, 2026, at 4:00 p.m. at the company's registered office, resulted in comprehensive decisions regarding fund raising and capital restructuring initiatives.

Board Meeting Outcome

The board meeting commenced at 4:00 p.m. and concluded at 8:15 p.m., with directors deliberating on multiple strategic matters. The meeting was conducted in compliance with Regulation 30 of SEBI LODR 2015, ensuring complete regulatory adherence.

Preferential Issue Approval

The board approved the issuance of up to 30.00 lakh equity shares at ₹10.00 per share, aggregating to ₹3.00 crores. This preferential allotment will be conducted in accordance with Chapter V of SEBI (ICDR) Regulations, 2018, subject to member approval and regulatory clearances.

Detailed Allottee Information

The preferential issue involves 12 proposed allottees, including one promoter and 11 non-promoters. Managing Director Sumita Mishra will receive the largest allocation of 15.14 lakh shares worth ₹1.51 crores, representing 50.31% of the total issue.

Capital Structure Changes

The company has applied for share capital reduction before NCLT, with the petition bearing No. 250/MB/2025 currently pending approval. Post the preferential allotment, the new share capital will consist of 31.00 lakh equity shares of ₹10.00 each, aggregating to ₹3.10 crores. The proposed preferential issue is not part of the earlier reduction of capital petition and this allotment is not subject to any corporate action arising out of the reduction of capital.

Regulatory Compliance and Valuation

The company obtained a valuation report from CA Jay Ashok Shah, IBBI Registered Valuer (Reg No: IBBI/RV/07/2022/14720), and a Regulation 163(2) certificate from CS Suprabhat Chakraborty (Membership No. A41030 CP No: 15878). The issue price of ₹10.00 per share was determined based on these professional assessments in compliance with SEBI (ICDR) Regulations, 2018.

Extraordinary General Meeting Schedule

The board approved convening an Extraordinary General Meeting on April 30, 2026, at 2:00 p.m. through video conference to seek shareholder approval for the preferential issue. E-voting facilities will be provided through CDSL platform, with CS Suprabhat Chakraborty appointed as scrutinizer for the voting process.

The preferential issue represents a strategic capital raising initiative that will strengthen the company's financial position while maintaining regulatory compliance throughout the process.

Suncity Synthetics Limited has announced the approval of its unaudited financial results for the third quarter of fiscal year 2026, following a board meeting held on February 14, 2026. The company conducted the meeting in compliance with regulatory requirements under SEBI listing obligations.

Board Meeting Details

The board meeting took place at the company's registered office located at B-129 Ansa Industrial Estate, Sakinaka Andheri East, Mumbai. The meeting was convened to address regulatory compliance under Regulation 30 and 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Results Approval

The board considered and approved the unaudited financial results for the quarter and nine months ended December 31, 2025. The approval included the limited review report accompanying the financial statements, ensuring compliance with regulatory disclosure requirements.

Corporate Information

Suncity Synthetics Limited operates under CIN L17110MH1988PLC454234 and trades on BSE with code 530795. The company's Managing Director Sumita Mishra, holding DIN 00207928, digitally signed the regulatory filing on February 14, 2026.

The company maintains its registered office in Mumbai's Andheri East area and can be contacted through multiple channels including email at suncitysyntheticslimited@gmail.com and their official website. The regulatory filing demonstrates the company's commitment to maintaining transparency and compliance with stock exchange requirements for quarterly financial disclosures.